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Bailey McCann, Oplaesque New York:

Vulture investing often gets a bad rap when it comes up in public conversations. Recently, vultures have been back in the spotlight with the demise of poorly managed Hostess, and the all out war between Elliot Management and Argentina. Yet, the vultures themselves, like George Schultze of Schultze Asset Management, see an art to it, and perhaps even some benefit to the market. Schultze recently released a new book about vulture investing entitled, The Art of Vulture Investing in which he discusses how vultures choose their deals.

Schultze has been a true vulture investor for over a decade, and was labeled by President Obama one of the "Chrysler holdouts," for his involvement on the federally managed restructure of the US auto industry following the 2008 crisis. The Chrysler deal was the first time a CEO and the President of the United States announced a bankruptcy together and also the first time the President was directly involved in a managed bankruptcy of a private company.

"Things got a little hairy there," Schultze said in an interview with Opalesque. He explains that the priority scheme for the bankruptcy was fundamentally changed with the involvement of the federal government – a situation he illustrates in de......................

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